Virginia lawmakers approved a $40 million loan in 2024 to kickstart a massive sailor housing project in Newport News. But the absence of language around the loan conditions concerned some city and state officials.
Lawmakers added amendments in the 2026 state budget to clear up that ambiguity. Their changes put into writing that the $40 million loan to the city of Newport News could be forgiven once the housing project is complete. And it’s up to the state’s legislative branch to make the call.
“We’re seeing some of the things that are happening at the federal government, where Congress is having to reassert its authority on where money goes and does not go, and so we just wanted to preemptively make sure it was clear on the state level,” said Del. Marcia “Cia” Price, who represents Newport News…